Citigroup Cuts Ferguson (NASDAQ:FERG) Price Target to $189.00

Ferguson (NASDAQ:FERG) had its price objective cut by Citigroup from $221.00 to $189.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently weighed in on FERG. Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target on the stock. Berenberg Bank lifted their target price on shares of Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird cut their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and issued a $219.00 price objective on shares of Ferguson in a research report on Wednesday, December 11th. Finally, Barclays cut their target price on Ferguson from $245.00 to $234.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.89.

Ferguson Stock Down 0.2 %

NASDAQ FERG opened at $173.89 on Monday. Ferguson has a 52 week low of $171.68 and a 52 week high of $225.63. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $34.77 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The stock’s 50-day moving average price is $196.67 and its 200-day moving average price is $199.43.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Ferguson’s previous quarterly dividend of $0.79. Ferguson’s dividend payout ratio (DPR) is currently 39.86%.

Insider Transactions at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares in the company, valued at approximately $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the sale, the insider now directly owns 5,938 shares in the company, valued at approximately $1,195,141.26. The trade was a 49.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock valued at $2,477,901 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FERG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ferguson by 423.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after purchasing an additional 1,183,143 shares during the last quarter. Southpoint Capital Advisors LP lifted its position in Ferguson by 133.3% in the third quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company’s stock worth $138,999,000 after buying an additional 400,000 shares during the last quarter. Barclays PLC lifted its position in Ferguson by 76.9% in the third quarter. Barclays PLC now owns 867,593 shares of the company’s stock worth $172,281,000 after buying an additional 377,283 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Ferguson during the third quarter valued at $63,420,000. Finally, FMR LLC raised its stake in shares of Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after acquiring an additional 288,935 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.